Stellantis to Repurchase 69.1 Million Shares From GM

By Josh Beckerman

Stellantis NV agreed to buy 69.1 million Stellantis common shares from General Motors Co. that GM is entitled to receive upon the exercise of warrants that Peugeot SA issued to GM in 2017.

Stellantis will pay 923.2 million euros ($920.3 million) for the shares. It will also deliver to GM about 1.2 million Faurecia SE shares and about EUR130 million of cash for rights to dividends paid by Peugeot and Stellantis.

The repurchase will take place on Thursday.

Write to Josh Beckerman at [e-mail]

(END) Dow Jones Newswires

09-13-22 1843ET